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CBS shares fell about 1 percent in Thursday after-hours trading after the company reported earnings in line with Wall Street estimates.
The media company posted adjusted fourth-quarter earnings per share of 92 cents on $3.91 billion in revenue. Analysts had expected CBS to report earnings of about 92 cents a share on $3.80 billion in revenue, according to a consensus estimate from Thomson Reuters.
CBS, owner of the most-watched U.S. TV network, said it saw a 6.2 percent rise in quarterly revenue driven by higher revenue from content licensing and distribution. Adjusted earnings per share for the fourth quarter of 2015 grew 19 percent from 77 cents per share for the comparable year-ago period.
Content licensing and distribution revenue rose more than 16 percent to cross $1 billion in the fourth quarter, accounting for about 28 percent of total revenue in 2015.